Engineer Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities, stated that the last effective date for granting facilitations in the payment of financial dues by exempting 70% of the value of late fines upon payment of all debts, for residential, administrative and professional units, commercial shops and villas belonging to the Housing Finance Fund, is 12/31/2024.
The Minister of Housing indicated that the facilities are being granted within the framework of the directives of His Excellency Abdel Fattah El-Sisi, President of the Republic, in order to lift the burden on citizens, as well as to enable citizens to own their own suitable housing and commercial activity to encourage investment.
Engineer Hisham Darwish, Advisor to the Ministry of Housing – Supervisor of the Construction and Contracting Sector – Chairman of the Board of Directors of the Housing Finance Fund, explained that the facilitations apply to residential, professional, administrative, and commercial units and villas regarding which there are ongoing lawsuits or for which a preliminary ruling has been issued, or an appellate ruling has been issued on the condition that the full price is paid. In addition to paying all judicial and administrative expenses and any other expenses.
Engineer Hisham Darwish added that the facilitations do not apply in the event of a judicial dispute filed by the client against the Fund except after waiving these lawsuits, and the facilitations do not apply to all units, villas and shops for which a decision of cancellation or final rulings in favor of the Fund has been issued, or final rulings are enforceable. The provisions of the Fund’s real estate regulations, as well as the decisions of the Board of Directors in this regard, apply.
